Gold Bugs Beatin' Senseless
Stomped, slapped, and now for good measure…given the boot. That’s no way to treat one of the most undervalued, logical places to put money in an overvalued, overbot, stock market. That “logical place” in this ponzi market is of course the paper miner shares in precious metals. Yet here we are. Defying all logic money just keeps flowing into stratospherically priced ponzi stocks like Netflix, Tesla, and Amazon. Its really getting almost as crazy in price valuations as the Nazdaq was in 2000.
Some conspiracy theorists like to point out that humans no longer are involved in moving the market. They like to say that a “deal” was made in 2009 to turn the market over to an algorithm controlled and directed by the Fed with its major member banks at the helm. Therefore giving a semblance of market participation, but in reality not allowing any substantial movement in the market to the downside that would trigger a selling panic.
These theorists add that currency and global bond markets were part of the algorithmic model. Gold and silver were an essential asset class to keep a firm foot on to provide an open field to run in.
But of course these theories were only theories and as the last 8 years unfolded gold and silver languished as their headline price remained tepid and the mining shares were destroyed. These assets were off limits to Wall Street paper. Anyone that played in this arena was punished by the algobots.
Just remember one little fact. Sentiment is now completely destroyed and all of those shares and all of those ounces of gold and silver were sold to someone, and that someone owns those shares for a reason and they are not retail. gl
Source: http://kliguy38depression2news.blogspot.com/2018/10/gold-bugs-beatin-senseless.html
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